SiTime (NASDAQ:SITM) Shares Gap Down – Time to Sell?

Shares of SiTime Co. (NASDAQ:SITM) gapped down prior to trading on Monday . The stock had previously closed at $174.84, but opened at $165.01. SiTime shares last traded at $164.68, with a volume of 65,143 shares changing hands.

Analyst Ratings Changes

A number of analysts recently commented on SITM shares. Raymond James reaffirmed an “outperform” rating and set a $250.00 price target (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Barclays raised their target price on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Stifel Nicolaus boosted their price target on shares of SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Needham & Company LLC raised their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $232.00.

SiTime Price Performance

The company has a 50 day simple moving average of $199.73 and a 200-day simple moving average of $192.63. The stock has a market capitalization of $3.69 billion, a P/E ratio of -38.62 and a beta of 1.85.

Insider Activity at SiTime

In other news, Director Raman Chitkara sold 500 shares of SiTime stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $265.00, for a total value of $132,500.00. Following the completion of the transaction, the director now owns 20,719 shares in the company, valued at $5,490,535. This trade represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Piyush B. Sevalia sold 1,038 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the sale, the insider now owns 92,847 shares in the company, valued at $14,636,401.08. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,108 shares of company stock worth $5,224,915. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On SiTime

A number of large investors have recently made changes to their positions in the stock. Van ECK Associates Corp purchased a new stake in SiTime during the 3rd quarter worth about $123,000. Amalgamated Bank lifted its holdings in shares of SiTime by 2.3% in the third quarter. Amalgamated Bank now owns 5,509 shares of the company’s stock worth $945,000 after buying an additional 122 shares in the last quarter. Atria Investments Inc purchased a new stake in shares of SiTime in the third quarter worth about $228,000. Crossmark Global Holdings Inc. purchased a new position in SiTime during the third quarter valued at approximately $236,000. Finally, Saturna Capital Corp purchased a new position in SiTime during the third quarter valued at approximately $206,000. 84.31% of the stock is owned by institutional investors.

About SiTime

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.